The very recently received property assessment notice shows a value for 2020 which is triple the value for 2019. Calls to the assessor’s office and to Antero required me to leave a message, and may take a week or longer to be returned, and we have only until mid-February to appeal the assessment. Does anyone here know the reason for the increase?
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Antero sends the amount of production to the state and the state forwards it to the county. The reappraisal is for the increase in production for wells that are producing. They are 2 years in arrears and would be from 2018. We received a letter the previous year telling us that the taxes would go up because the production on the property went up a lot. That is the reason. Hard to digest when you look at the taxes before the wells were drilled and after they start producing. Not knowing the amount you are referring to, you would be the one who has to decide if it’s excessive. Hope this helps.
Thank you, DT11. This is helpful. We began receiving royalties in 2016, so have been paying taxes on extractions for a while now. The income has been declining each month over the last year, so I was surprised to see in the assessment notice that gas value has tripled. I wondered whether other owners are seeing the same increases.
Yes I’ve noticed the same declining revenue. For the property assessment I went back 2 years and found the current year assessment to be exactly the amount as I was paid in royalty for that year (2 years ago).
Thank you. This is what I needed to understand.
If wells decline in production and royalty value, realizing there is a 2 year lag…can one expect to be successful in appealing the assessment? Thanks.
As I mentioned above you just need to go back two years and look at your revenue from the well(s) and make sure it equals this year’s assessment and adjusted to match. Mine have so far.
But can you make a case to reduce your property taxes if wells decline or are shut in?
I would guess if they do not change the assessment to match the production you could. Ours have matched exactly though given the 2 year lag.
Thanks for your reply James.
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